1. United States
2. Calif.
3. Letter

Dear Governor Newsom, I am writing to urge you to veto or amend AB 2050. As a first-time homeowner in my 50s, my family purchased our condo five years ago through our city’s Downpayment Assistance Loan Program (DALP). Over the past two years, we have been forced to pay thousands of dollars in special assessments just to cover skyrocketing insurance premiums—money that provides zero added value to our property and severely strains our household budget. Homeowners in California are already being priced out due to the ongoing insurance crisis. Introducing AB 2050—which demands strict HOA reserve percentages without providing any cost protections, phase-in periods, or guardrails for residents—will create a secondary financial disaster. If this bill is signed into law without protections, many fixed- and lower-income families in my building and across the state will face foreclosure or be forced from their homes simply because they cannot absorb year after year of multi-thousand-dollar special assessments. California’s housing crisis cannot be solved by pushing existing homeowners out of their homes. Please do not sign AB 2050 into law without meaningful safeguards for working families and middle-class condo owners who are already struggling.